Ways to make extra money working online?

This might be a difficult concept to explain at first, but I will try my best. Think of money as a good, that has a limited amount. Money is not unlimited and there is a certain quantity of money in an economy, called the supply of money.

This supply of money determines the price level and the interest rate in an economy. There are two primary kinds of money, backed currency and unbacked currency. Backed currency means that money is based upon a certain commodity, historically it was either gold or silver.

This basically means that one unit of currency equals a certain amount of gold/silver e.g. 1 British Pound used to equal one pound of sterling silver. The other kind, the unbacked currency is called the fiat money, meaning that money has no fixed value e.g. 1 pound could equal anything and it's value fluctuates. At times, you could buy 3 units for one pound, but at other times you could buy only 2.

If such happens, the currency loses value. Suppose that you have a currency backed on the gold standard. It is now easy to understand that the value of money is simply the amound of gold it corresponds to.

If people exchange goods on the market, the value of these goods is expressed in the amound of gold they are worth. When it comes to the money supply, the amound of money in circulation is essentially the amount of gold in a certain economy. If the supply of money (the amount of gold) is to be increased, more gold will be imported or "dug out" depending on the demand of the economy.

However, over time, in need for (persumed) economic interventionism, most countries including US have decided to leave the gold or silver standard and introduce fiat money without the backed value. This has helped the government and the central bank to decide and manipulate the value of money, or as I have previously mentioned at one time one dollar buys you 3 units, at other the same dollar buys 2 or even 1. Fiat money allows the central bank (usually ordered by the government) to expand or contract the supply of money (usually it is expanded), meaning that the government can simply print more money.

Now let's consider what happens if the government prints more money. If more money is printed, the supply increases, meaning that there is more money in the circulation. According to the rules of supply and demand, the greater the supply, the lower the value considering a stable demand.

Conversely, if a commodity, e.g. money becomes scarce (less money in the economy) than the value of money increases. If more money is printed, the money is more avalible, thus decreasing the cost of borrowing money, meaning that interest rate will decrease. If the supply of money increases, the general price level will rise as the economy will be shifting back towards equilibrium.

This is because, as people have more money, there would be a greater amound of people willing to buy a number of commodities. In order to limit the number of people who can buy these commodities (due to the scarcity of commodities) the prices will go up. This is called demand-pull inflation.

Considering the lack of a backing commodity such as gold, the fiat currencies are often measured against what is known as the basket of goods. It is a concept of a shopping basket with a certain ammount of daily commodities in it, and it is measured how much of these goods can one unit of a currency buy.

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